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From Colorado ICT Wiki
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[edit] Information and Communications Technology (ICT)
[edit] I. What Is ICT?
The information technology revolution reflects the intersection of three technological trends. First, micro-processing technology continues to improve (Moore’s Law), meaning that “computing power” is available in ever more devices and those devices operate more effectively. In turn, this dynamic creates opportunities for software applications to run on those devices and for digital content to be accessed by them. Second, the ever-decreasing costs of storage means that information of all kinds can now be stored more cheaply and processed in creative ways (think Amazon’s algorithm that tells you “you liked this book, you’ll like this other one”). Third, digital broadband networks—both wired and wireless—can carry ever more information of all kinds (voice, video, data, etc.), often using the Internet to do so. In short, these three trends are combining to create enormous opportunities in the ICT ecosystem. Consider, for example, the iPhone, which is a terrific example of the opportunities facilitated by these trends. Notably, “Apple is making more than $1 billion in quarterly profit from [the iPhone, which] it didn’t even sell two years ago,” as explained by a NY Times reporter. As the 2008 New Economy Index reported, “it appears likely that the ‘IT engine’ is not likely to run out of gas anytime soon. The core technologies (memory, processors, sensors, displays, and communication) continue to get better, faster, cheaper, and easier to use, enabling new applications to be introduced on a regular basis.” 4
The second point to note about the ICT ecosystem is that this engine of innovation and economic activity is often driven by the presence of talent. Consider, for example, how Ben Casnocha describes the dynamics of economic activity in the 21st century economy (in Start-Up Town, The American (October 10, 2008).)
- Professor Richard Florida argues in his book Who’s Your City? that it is in fact “mega-regions” (not nations) that will drive the economy in the 21st century and that the competitiveness discussion should take place on this front. Financiers choose between New York and London (or Hong Kong or wherever), not between the United States and the United Kingdom. Technologists choose from among San Francisco and Boston and Shanghai: specific cities. In other words, this desirable class of economic growth generating talent—entrepreneurs, scientists, bankers, engineers—choose exactly where they want to live with great precision and care.
We have had to relearn that location matters. When the Internet first emerged, globalization manifestos foretold a world where place was irrelevant. “Anyone, anytime, anywhere” was the catch phrase. Yet certain industries continue to be overwhelmingly concentrated in certain physical places. For starters, creative output tends to come from teamwork, and teamwork still happens best in person. Florida calls this “the world is spiky” phenomenon, with the spikes representing economic activity bursting up from specific regions. “Despite all the hype over globalization and the ‘flat world,’ place is actually more important to the global economy than ever before,” writes Florida.
